ICI's latest weekly Money Market Fund Assets report shows yet another decline in MMFs overall but the 5th straight increase in Prime funds. Prime MMFs rose by $2.4 billion to $420.9 billion, their 11th increase in the past 13 weeks. Prime assets have risen by $22.8 billion over the past 12 weeks, or 5.7%, and year-to-date Prime assets have increased by $42.7 billion, or 10.8%. ICI writes, "Total money market fund assets decreased by $9.88 billion to $2.62 trillion for the week ended Wednesday, July 19, the Investment Company Institute reported today. Among taxable money market funds, government funds decreased by $11.88 billion and prime funds increased by $2.35 billion. Tax-exempt money market funds decreased by $348 million." Total Government MMF assets, which include Treasury funds too, stand at $2.066 trillion (79.0% of all money funds), while Total Prime MMFs stand at $420.9 billion (16.1%). Tax Exempt MMFs total $129.9 billion, or 5.0%. They explain, "Assets of retail money market funds decreased by $388 million to $957.08 billion. Among retail funds, government money market fund assets decreased by $387 million to $580.32 billion, prime money market fund assets increased by $76 million to $252.68 billion, and tax-exempt fund assets decreased by $76 million to $124.08 billion." Retail assets account for over a third of total assets, or 36.6%, and Government Retail assets make up 60.6% of all Retail MMFs. ICI's release adds, "Assets of institutional money market funds decreased by $9.49 billion to $1.66 trillion. Among institutional funds, government money market fund assets decreased by $11.50 billion to $1.49 trillion, prime money market fund assets increased by $2.28 billion to $168.22 billion, and tax-exempt fund assets decreased by $272 million to $5.82 billion." Institutional assets account for 63.4% of all MMF assets, with Government Inst assets making up 89.5% of all Institutional MMFs.
